Income tax exemption
Income tax in Australia is imposed by the federal government on the taxable income of individuals and corporations. Whether a not-for-profit organisation has to pay income tax will depend on whether it is exempt from income tax. Only certain types of not-for-profit organisations are exempt. Many are taxable and may need to lodge income tax returns and pay income tax.
Integrity, honesty and unbiased assessment are at the core of Giving Guide’s mission. The charity sector is important to the economy and culture of Australia, We believe independently assessing the accountability, transparency and effectiveness of the sector beyond what is currently available is important to it's future.
Giving Guide anticipates enhancing the level of governance and transparency in the Australian charity sector. An independent charity advisor would benefit the sector by helping charities consider exceeding the existing governance standards of the Australian Charities and Not-for-profits Commission (ACNC) to the benefit of donors.